M/S Moneywise Financial Services Pvt Ltd v. Balaji Poly Print And ORS

$~34 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 183/2025 M/S MONEYWISE FINANCIAL SERVICES PVT LTD .....Petitioner Through:

Mr. Ranjeet Kumar, Ms. Preeti Kumari, Advs.

versus BALAJI POLY PRINT AND ORS .....Respondent Through:

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 27.03.2025 1.

This is a petition filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator for adjudication of disputes between the parties arising out of the Master Loan Agreement dated 03.10.2018.

2.

The said Agreement contained arbitration clause being clause No. 8.2 which reads as under:- "8.2 Arbitration:

Any disputes, differences, controversies and questions directly or indirectly arising at any time hereafter between the Parties or their respective representatives or assigns, arising out of or in connection with this Agreement (or the subject matter of this Agreement), including, without limitation, any question regarding its existence, validity, interpretation, construction, performance, enforcement, rights and liabilities of the Parties, or termination ("Dispute") thereof, shall be finally settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996 as amended ("Arbitration Act"). The dispute shall be The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

referred to a sole arbitrator duly appointed by the parties with mutual consent failing which the sole arbitrator shall be appointed in accordance with the Arbitration Act. The language of the arbitration shall be English. The seat of the arbitration shall be at Delhi and the language of proceedings shall be English. The award rendered shall be in writing and shall set out the reasons for the arbitrator's decision. The costs and expenses of the arbitration shall be borne equally by each Party, with each Party paying for its own fees and costs including attorney fees, except as may be determined by the arbitration tribunal. Any award by the arbitration tribunal shall be final and binding."

3.

Since there was a default in payment of the loan, the petitioner invoked arbitration vide legal notice dated 22.10.2024 and thereafter filed the present petition.

4.

As per the Agreement, the email id of the respondent Nos. 1 and 2 is shown as ummedsing6509@gmail.com. The affidavit of service shows that the respondents have been served on the said email id.

5. For the said reasons, I am satisfied that the respondents have been served. Despite service, there is nobody appearing on behalf of the respondents.

6. I am also satisfied that there are disputes pending between the petitioner and the respondents and the same needs to be resolved through arbitration process as mandated in the Agreement.

7. In this view of the matter, the petition is allowed and the following directions are issued:- i) Mr. Tarveen Singh Nanda, Advocate (Mob. No. 9555551536) is appointed as a Sole Arbitrator to adjudicate the disputes The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

between the parties.

ii) The arbitration will be held under the aegis of the Delhi International Arbitration Centre, Delhi High Court, Sher Shah Road, New Delhi (hereinafter, referred to as the 'DIAC'). iii) The remuneration of the learned Arbitrator shall be in terms of DIAC (Administrative Cost and Arbitrators' Fees) Rules, 2018. iv) The learned Arbitrator is requested to furnish a declaration in terms of Section 12 of the Act prior to entering into the reference.

v) It is made clear that all the rights and contentions of the parties, including as to the arbitrability of any of the claim, any other preliminary objection, as well as claims/counter-claims and merits of the dispute of either of the parties, are left open for adjudication by the learned arbitrator.

vi) The parties shall approach the learned Arbitrator within two weeks from today.

8.

The present petition is disposed of in the aforesaid terms. JASMEET SINGH, J MARCH 27, 2025 / (MS) Click here to check corrigendum, if any The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.